Thanks for the scanlations :D
I'm really enjoying the contrast between Kaguhara and Mikamo.
Kaguhara is a degenerate purely by animal instinct: she becomes reduced to a single-minded creature whenever fetishes are involved, but also gains super-human intellectual and physical capabilities. In a sense, she's a noble savage who is untainted by societal norms, instead just acting on her desires while understanding that such desires are taboo to others. She's actually quite pure; for instance, this chapter, she plays the straight man and points out the stalking.
Mikamo, on the other hand, is all too human in her degeneracy. She's intellectual, but not a savant of fetishes. She makes up self-insert fantasies in her head, but publishes them anonymously. She's the type of person who schemes instead of acting. She keeps talking about degeneracy through the concept of karma, as if it's inherently a bad thing. All of this shows that she is always conscious of how weird she is, as a result of which she is always fidgety and gloomy. She's has a limit to how much horny she can take, which is why she is seriously freaked out by Kaguhara. She thinks about her actions much more than Kaguhara does, in any case.